Capitalism, Socialism and Democracy - Introduction

Introduction

The book is unusual insomuch as it was written to appear sympathetic to socialism, beginning with an account of Karl Marx, in order to encourage socialists to read it. Schumpeter hoped they would achieve self-recognition of the problems with socialism in the light of the book, without having to be explicitly told: if the book appeared to be favourable to capitalism, he feared socialists, his target audience, would not bother to read it.

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